Fintech
United Hunter Announces Entering into Letter of Intent to Acquire Bocana Resources Ltd.
Vancouver, British Columbia–(Newsfile Corp. – August 10, 2020) – United Hunter Oil & Gas Corp. (TSXV: UHO) (FSE: 18U1) (“UHO” or the “Company“) is pleased to announce that it has signed a non-binding letter of intent dated August 7, 2020 (the “LOI“) with Bocana Resources Ltd. (“Bocana“), a private company incorporated under the Canada Business Corporations Act (the “CBCA“), which sets forth the general terms and conditions of a proposed reverse takeover transaction (the “Proposed Transaction“). In addition and in connection with the Proposed Transaction, the parties have agreed to use their “commercially reasonable efforts” to cause UHO or Bocana to complete a private placement of common shares at a price of at least $0.10 in accordance with subsection 4.2(h) of Policy 5.4 of the TSX Venture Exchange (the “Exchange“)(the “Proposed Private Placement“).
The Proposed Transaction will, pursuant to the policies of the Exchange, constitute a ‘reverse takeover’ of the Company. The corporation resulting from the Proposed Transaction (the “Resulting Issuer“) will carry on the business of Bocana as currently constituted and be listed for trading on the Exchange as a Tier 2 mining issuer and the Frankfurt Stock Exchange under the name “Bocana Resources Gold and Silver Corp.”, or such other name as the parties may agree.
Pursuant to the terms of the LOI, it is intended that UHO and Bocana will enter into a business combination by way of a share exchange, merger, amalgamation, arrangement, or other similar form of transaction. The final structure of the business combination is subject to receipt by the parties of tax, corporate, and securities law advice and will be agreed to and superseded by a definitive agreement (the “Definitive Agreement“) between UHO and Bocana with such agreement to include representations, warranties, conditions and covenants typical for a transaction of this nature. In addition, upon execution of the LOI, UHO advanced to Bocana an unsecured loan in the principal amount of $20,000 and in accordance with section 6.1 of Policy 5.2 of the Exchange.
The Proposed Transaction is subject to, among other details, final approval of the Exchange and standard closing conditions, including the conditions described below.
Overview of Bocana
Bocana is a private corporation incorporated under the CBCA and carrying on business as a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Bolivia. Bocana, through its wholly-owned subsidiary, Huiracocha International Service SRL, holds a 100% working interest in the mineral properties known as the Escala Area Concessions located at the Department of Potosi, Sud Lipez Province, Bolivia and has pending additional applications with the Corporación Minera de Bolivia to acquire the mining rights to two additional concession areas, also in the Sud Lipez Province of Bolivia.
Summary of the Proposed Transaction
Pre-Closing Capitalization of Bocana
As of the date hereof, Bocana has (a) 50,585,200 common shares issued and outstanding (the “Bocana Shares“), (b) 3,417,500 warrants to acquire 3,417,500 Bocana Shares (the “Bocana Warrants“) and (c) 417,000 common share purchase broker warrants to acquire 417,000 Bocana Shares the “Bocana Broker Warrants“)(the Bocana Shares, Bocana Warrants and Bocana Broker Warrants are collectively referred to herein as the “Bocana Securities“). Bocana will conclude an open private placement offering of up to 5,000,000 Bocana Shares at $0.10 per Bocana Share to raise gross proceeds of up to CAD $500,000 (the “Bocana Offering“). As a condition to completion of the Proposed Transaction and prior to the Proposed Private Placement, Bocana will complete the Bocana Offering.
Pre-Closing Capitalization of UHO
As of the date hereof, UHO has (a) 24,755,375 common shares issued and outstanding (the “UHO Shares“) and (b) 1,400,000 outstanding stock options to acquire 1,400,000 UHO Shares (the “UHO Stock Options“)(the UHO Shares and UHO Stock Options are collectively referred to herein as the “UHO Securities“).
The UHO Shares are currently listed on the TSXV under the symbol “UHO“. The UHO Shares are currently halted from trading and are expected to remain halted pending the completion of the Proposed Transaction.
Terms of the Proposed Transaction
The LOI serves as an agreement in principle concerning a business combination between UHO and Bocana that will result in a reverse takeover of UHO. The Proposed Transaction will take the form of a business combination between UHO and Bocana whereby the UHO Securities and Bocana Securities will be exchanged on a 1:1 basis for an equivalent security of the Resulting Issuer (other than Bocana Shares or UHO Shares held by shareholders who exercise their dissent rights, if applicable).
Under the terms of the LOI, it is anticipated that Bocana and UHO will enter into the Definitive Agreement pursuant to which the Proposed Transaction will be completed by way of a plan of arrangement, amalgamation, or alternate structure to be determined, the final structure of which will be subject to receipt by the parties of relevant tax, corporate and securities law advice.
The completion of the Proposed Transaction is also subject to several other conditions set out in the LOI, including approval by the directors of the Company and Bocana, satisfactory completion of due diligence, regulatory approval and shareholder approval. A more comprehensive news release will be issued by UHO disclosing details of the Proposed Transaction, including financial information respecting Bocana, the names and backgrounds of all persons who will constitute insiders of the Resulting Issuer, and information respecting sponsorship, once an agreement has been finalized and certain conditions have been met, including:
- satisfactory completion of due diligence; and
- execution of the Definitive Agreement.
Tim Turner, Chief Executive Officer and a director of UHO owns approximately 15.57% of the outstanding Bocana Shares. As a result of his position as a director and officer of UHO and ownership interest in Bocana, the Proposed Transaction will both constitute a “Non-Arm’s Length Transaction” as defined by the policies of the Exchange and a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company will be seeking majority of the minority approval of the Proposed Transaction at a meeting of UHO shareholders. Trading in the UHO Common Shares has been halted and is not expected to resume trading until the Proposed Transaction is completed or until the Exchange receives the requisite documentation to resume trading.
The Company has requested a halt in trading of its UHO Common Shares and, pursuant to the rules of the Exchange, the halt in trading is expected to continue until the completion of the Proposed Transaction. Sponsorship pursuant to rules of the TSXV may be required and UHO plans to apply for a waiver. The Company has not yet engaged a sponsor.
Summary of the Proposed Private Placement
Pursuant to the LOI, the parties have agreed to use their “commercially reasonable efforts” to cause Bocana or UHO to complete a the Proposed Private Placement of common shares (the “Private Placement Common Shares“) at a price per common share of at least $0.10 to meet the valuation requirements set out in subsection 4.2(h) of Policy 5.4 of the Exchange. The parties may engage an agent or syndicate of agents (the “Agents“) for the Proposed Private Placement. A commission may be paid to the Agents or to individual registrants (including selling group members). The Agents may also be granted broker warrants of the number of Private Placement Common Shares sold by the Agents (including selling group members) in the Proposed Private Placement, with each broker warrant entitling the holder thereof to purchase one common share of the Resulting Issuer at a price equal to the price paid per Private Placement Common Share for a period of 12 months from closing of the Proposed Transaction. Further particulars of the Proposed Private Placement will be disseminated in a news release to be issued upon finalization of its terms.
Forward-Looking Information
Statements in this press release regarding UHO’s business which are not historical facts are “forward-looking statements” that involve risks and uncertainties, such as terms and completion of the proposed transaction. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, execution of a binding Definitive Agreement relating to the Proposed Transaction, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a UHO should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.
For further information, please contact:
Timothy Turner
Chief Executive Officer
United Hunter Oil & Gas Corp.
Telephone: (713) 858-3329
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Modern brands stake on influencer marketing, with 76% of users making a purchase after seeing a product on social media.The cryptocurrency industry is no exception to this trend. However, promoting crypto products through influencer marketing can be particularly challenging. Crypto influencers pose a significant risk to a brand’s reputation and ROI due to rampant scams. Approximately 80% of channels provide fake statistics, including followers counts and engagement metrics. Additionally, this niche is characterized by high CPMs, which can increase the risk of financial loss for brands.
In this article Nadia Bubennnikova, Head of agency Famesters, will explore the most important things to look for in crypto channels to find the perfect match for influencer marketing collaborations.
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Comments
There are several levels related to this point.
LEVEL 1
Analyze approximately 10 of the channel’s latest videos, looking through the comments to ensure they are not purchased from dubious sources. For example, such comments as “Yes sir, great video!”; “Thanks!”; “Love you man!”; “Quality content”, and others most certainly are bot-generated and should be avoided.
Just to compare:
LEVEL 2
Don’t rush to conclude that you’ve discovered the perfect crypto channel just because you’ve come across some logical comments that align with the video’s topic. This may seem controversial, but it’s important to dive deeper. When you encounter a channel with logical comments, ensure that they are unique and not duplicated under the description box. Some creators are smarter than just buying comments from the first link that Google shows you when you search “buy YouTube comments”. They generate topics, provide multiple examples, or upload lists of examples, all produced by AI. You can either manually review the comments or use a script to parse all the YouTube comments into an Excel file. Then, add a formula to highlight any duplicates.
LEVEL 3
It is also a must to check the names of the profiles that leave the comments: most of the bot-generated comments are easy to track: they will all have the usernames made of random symbols and numbers, random first and last name combinations, “Habibi”, etc. No profile pictures on all comments is also a red flag.
LEVEL 4
Another important factor to consider when assessing comment authenticity is the posting date. If all the comments were posted on the same day, it’s likely that the traffic was purchased.
2. Average views number per video
This is indeed one of the key metrics to consider when selecting an influencer for collaboration, regardless of the product type. What specific factors should we focus on?
First & foremost: the views dynamics on the channel. The most desirable type of YouTube channel in terms of views is one that maintains stable viewership across all of its videos. This stability serves as proof of an active and loyal audience genuinely interested in the creator’s content, unlike channels where views vary significantly from one video to another.
Many unauthentic crypto channels not only buy YouTube comments but also invest in increasing video views to create the impression of stability. So, what exactly should we look at in terms of views? Firstly, calculate the average number of views based on the ten latest videos. Then, compare this figure to the views of the most recent videos posted within the past week. If you notice that these new videos have nearly the same number of views as those posted a month or two ago, it’s a clear red flag. Typically, a YouTube channel experiences lower views on new videos, with the number increasing organically each day as the audience engages with the content. If you see a video posted just three days ago already garnering 30k views, matching the total views of older videos, it’s a sign of fraudulent traffic purchased to create the illusion of view stability.
3. Influencer’s channel statistics
The primary statistics of interest are region and demographic split, and sometimes the device types of the viewers.
LEVEL 1
When reviewing the shared statistics, the first step is to request a video screencast instead of a simple screenshot. This is because it takes more time to organically edit a video than a screenshot, making it harder to manipulate the statistics. If the creator refuses, step two (if only screenshots are provided) is to download them and check the file’s properties on your computer. Look for details such as whether it was created with Adobe Photoshop or the color profile, typically Adobe RGB, to determine if the screenshot has been edited.
LEVEL 2
After confirming the authenticity of the stats screenshot, it’s crucial to analyze the data. For instance, if you’re examining a channel conducted in Spanish with all videos filmed in the same language, it would raise concerns to find a significant audience from countries like India or Turkey. This discrepancy, where the audience doesn’t align with regions known for speaking the language, is a red flag.
If we’re considering an English-language crypto channel, it typically suggests an international audience, as English’s global use for quality educational content on niche topics like crypto. However, certain considerations apply. For instance, if an English-speaking channel shows a significant percentage of Polish viewers (15% to 30%) without any mention of the Polish language, it could indicate fake followers and views. However, if the channel’s creator is Polish, occasionally posts videos in Polish alongside English, and receives Polish comments, it’s important not to rush to conclusions.
Example of statistics
Wrapping up
These are the main factors to consider when selecting an influencer to promote your crypto product. Once you’ve launched the campaign, there are also some markers to show which creators did bring the authentic traffic and which used some tools to create the illusion of an active and engaged audience. While this may seem obvious, it’s still worth mentioning. After the video is posted, allow 5-7 days for it to accumulate a basic number of views, then check performance metrics such as views, clicks, click-through rate (CTR), signups, and conversion rate (CR) from clicks to signups.
If you overlooked some red flags when selecting crypto channels for your launch, you might find the following outcomes: channels with high views numbers and high CTRs, demonstrating the real interest of the audience, yet with remarkably low conversion rates. In the worst-case scenario, you might witness thousands of clicks resulting in zero to just a few signups. While this might suggest technical issues in other industries, in crypto campaigns it indicates that the creator engaged in the campaign not only bought fake views and comments but also link clicks. And this happens more often than you may realize.
Summing up, choosing the right crypto creator to promote your product is indeed a tricky job that requires a lot of resources to be put into the search process.
Author
Nadia Bubennikova, Head of agency at Famesters
The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.
Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.
Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).
At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.
The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.
As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.
Source: fintech.globa
The post Central banks and the FinTech sector unite to change global payments space appeared first on HIPTHER Alerts.
TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.
The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.
This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.
TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.
Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.
TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.
Source: fintechfutures.com
The post TD Bank inks multi-year strategic partnership with Google Cloud appeared first on HIPTHER Alerts.
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